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FTSE 100 Closes Monday Up Amid Retailer Outperformance – Marketscreener.com

The FTSE 100 closed Monday up 0.2% to 7784 points, in line with global peers, driven by an outperformance in consumer retail stocks and stronger oil and gas prices as Chinese New Year gets under way, CMC Markets Chief Market Analyst Michael Hewson says in a note. Ocado rose 3.9% and lead the blue-chip index top risers after reporting its biggest one-week decline since November last year. Associated British Foods rose 2.3%, with the Primark owner seeing some modest strength ahead of its first-quarter numbers tomorrow, Hewson says. On the other end of the table, precious-metals miner Fresnillo’s shares fell 4.9%, followed by Endeavour, down 2.6%.

Companies News: 

Barclays Names John Kingman as Chair of Barclays Bank UK

Barclays PLC on Monday said it has appointed John Kingman as chair of Barclays Bank UK effective June 1, succeeding Crawford Gillies.

Endeavour 2022 Production Hit Top End of Estimates; Names New CFO

Endeavour Mining PLC said Monday that 2022 gold production reached the top end of its estimates, and named Guy Young as its incoming chief financial officer.

Dignity Agrees to GBP281 Mln Takeover by Consortium

Dignity PLC said Monday that it has agreed to a 281 million-pound ($348.3 million) takeover by Yellow (SPC) Bidco Ltd., a new company owned or controlled by a consortium comprised of SPWOne V Ltd., Castelnau Group Ltd. and Phoenix Asset Management Partners Ltd.

Saga PLC in Talks to Sell Its In-House Insurer

Saga PLC on Monday said it is in discussions to sell its underwriting business to reduce its debt.

Dignity Sees 2022 Profit Dropping on High Costs, Pivot to Lower-Priced Products

Dignity PLC said Monday that it expects to report that 2022 underlying revenue and operating profit fell on year amid shifts toward lower-priced products, and increased costs and investment.

DG Innovate to Raise up to GBP0.5 Mln to Fund Development

DG Innovate PLC said Monday that it is seeking to raise up to 500,000 pounds ($619,700) via a share subscription and broker option, and will use the money toward its development.

tinyBuild Sees 2022 Revenue in Line With Views

tinyBuild Inc. said Monday that 2022 revenue was in line with expectations and that the board was looking to 2023 with confidence.

Audioboom 2022 Adjusted Earnings, Revenue Rose

Audioboom Group PLC said Monday that adjusted earnings and revenue for 2022 rose, and that it has secured advance advertising bookings of more than $44 million for 2023.

Everyman Media Says 2022 Revenue, Ebitda Significantly Rose

Everyman Media Group PLC said Monday that revenue significantly rose on year in 2022 despite a reduced slate of films over the year, and that Ebitda is expected ahead of current market forecasts.

Chemring CFO Andrew Lewis to Retire

Chemring Group PLC said Monday that Chief Financial Officer Andrew Lewis will retire from the board and that his notice period is 12 months.

TouchStar Expects 2022 Earnings, Cash Generation to Beat Expectations

TouchStar PLC said Monday that it expects to report core earnings and cash generation ahead of expectations for 2022, while pretax profit and revenue should be in line.

Getech Group Expects 2022 Revenue Ahead of Market Views

Getech Group PLC said Monday that 2022 revenue will exceed market expectations, and that the board hasn’t any plans to raise capital from shareholders as it has started 2023 with a strong balance sheet, sales pipeline growth, and good customer and partner momentum.

Hellenic Dynamics On Track to Make Revenue in 2Q

Hellenic Dynamics PLC on Monday said it is on track for second-quarter revenue as it meets distributor demand and that it is confident about the future.

Intercede Shares Jump as Fiscal 2023 Earnings, Revenue Expected to Beat Market Views

Shares of Intercede Group PLC rose on Monday after the company said it expects fiscal 2023 result ahead of market forecasts.

Hansard Global Names Thomas Morfett as Incoming CFO

Hansard Global PLC said Monday that it has appointed Thomas Morfett as chief financial officer and executive director.

Serica Energy Secures Two-Year Renewal of Rhum Field License

Serica Energy PLC said Monday that its license for the North Sea Rhum field has been renewed for a further two years by the U.S. Office of Foreign Assets Control to Jan. 31, 2025.

Surgical Innovations Group Sees 2022 Revenue Ahead of Market Views

Surgical Innovations Group PLC on Monday said it expects its 2022 revenue to come in ahead of market views as it saw higher sales in the second half of the year with which the group will return to profitability.

Vast Resources Shares Rise on Potential Progress in Historic Diamond Claim

Shares of Vast Resources PLC rose Monday after the company said that material progress could be made in relation to legal action over historic diamond claims in Zimbabwe.

Invinity Energy Systems Sees 2022 Revenue in Line With Views

Invinity Energy Systems PLC said Monday it expects 2022 revenue to be in line with market expectations and that its current 2023 order book backlog of 22 million pounds ($27.3 million) underpins most of its current revenue expectations for the year.

Novatek Oil, Gas Reserves Rose 7.1% in 2022

Novatek said Monday that its total proved oil and gas reserves increased 7.1% on year.

Oxford Cannabinoid 1H Pretax Loss Widened on Higher Research Costs

Oxford Cannabinoid Technologies Holdings PLC said Monday that its half-year pretax loss widened as its research and development costs increased.

TDR-backed Asda bosses mull GBP12bn merger with petrol forecourt business — Financial News

Both Asda and EG are jointly owned by the brothers Mohsin and Zuber Issa and London-based private equity firm TDR Capital

Lithia in Talks to Buy UK Auto Retailer Jardine Motors for GBP300 Mln, Sky News Reports

— The North American car dealership Lithia Motors Inc. is in advanced talks to buy the U.K. luxury automotive retailer Jardine Motors for 300 million pounds ($371.8 million) from the conglomerate Jardine Matheson Holdings, Sky News reported citing unnamed sources.

Arm-Based Chips Make Inroads With Apple, Amazon — WSJ

By Asa Fitch

 
Market Talk: 

European Drinks Stocks Still Look Attractive

1334 GMT – European drinks stocks still have their attractions despite increased market appetite for riskier stocks, Citigroup says ahead of expected updates from companies in the sector. Staple stocks have had a tougher start to 2023 than expected as a potentially softer economic landing in Europe has driven investors toward higher-risk sectors, Citi says. “However, with relative valuations of several beverage & tobacco names increasingly attractive and opportunities for earnings upside on China re-opening and margins from cost-of-goods-sold deflation later in 2023, we reiterate our buy ratings on Heineken, Coca-Cola Europacific Partners, Pernod Ricard, Remy Cointreau and Britvic,” Citi analysts write, adding that investors look set to focus on issues such as China re-opening, U.S. consumer uncertainty, pricing and cash returns. (philip.waller@wsj.com)

Fuller Smith & Turner’s Needs Operational Improvements to Achieve Rerating

1337 GMT – Although Fuller Smith & Turner had previously flagged the potential hit from labor strikes by railworkers on its business, at GBP4 million of lost sales it was significantly worse than feared, Liberum analysts Anna Barnfather and Nishant Dahad say in a note. Challenging trading conditions remain as continuing rail strikes hit hard, prompting analysts to adjust 2023 forecasts, with adjusted pretax profit estimates cut to GBP13.3 million from GBP17.7 million as like-for-like sales recovery momentum stalls and lags the wider markets, the analysts say. “The business performance continues to lag the market which, while partially due to London City exposure, makes it harder for Fuller’s to demonstrate any operational improvements that we believe are required for a re-rating,” they say. Liberum cuts the stock’s target price to 485 pence from 550 pence. (anthony.orunagoriainoff@dowjones.com)

Dollar Rises Against Major Currencies

0935 ET – The dollar gets stronger as markets try to pinpoint how fast inflation will fall and how high US interest rates will go. “The market pricing 2.25% YoY headline inflation by June is possible, but we think unlikely in our modal scenarios for both core and non-core components,” Bank of America economists say in a report. A prolonged fight against price increases would likely keep US rates higher than in other developed economies, strengthening the dollar. The greenback rises nearly 1% to the yen, 0.6% versus the pound and 0.2% against the euro. (paulo.trevisani@wsj.com; @ptrevisani)

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

01-23-23 1212ET

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money markets

How do you win in binary options trading? – Bulawayo24 News

Binary options have entered the stock market and taken beginners by storm. For those who have always been wary and just a little afraid of traditional stock markets like Forex, this new instrument allows you the flexibility and ease that you have always wanted.

With time and plenty of advancement in the latest technology, binary investments are now available anytime, anywhere, and have become pretty popular among stock market enthusiasts. If you are a beginner in the stock market industry and want to try something easy to get into, then this article will let you in on all the details as to how you can win big returns in binary options trading.

Great Returns
When compared to more conventional trading markets, the biggest benefit of this instrument is the high returns it can generate. You can earn up to 95% returns in just one investment. That is not all, because binary options trading information reveals that you can invest every 60 seconds. The payouts are also fast and almost instantaneous.

Before the market closes, you will be able to determine how much return you might get. Trading binary options is a great way to invest because you can easily predict your profits without the help of a third party.

Make sure you check how volatile your assets are beforehand. Also, take a look at where the general demand stands when it comes to the asset.

Less Risk
With binary options trading, you can invest as little as $5 and still get returns. Moreover, you will not lose more than the amount you invest, which is a distinct possibility for traditional investment opportunities.

When you know the risk you have to take, it is always easier, especially for beginners who do not want to lose out on too much money right at the very start of their journey. With binary options, you can learn and earn money without going bankrupt.

Trade on Your Own Terms
You can employ different trading strategies when it comes to binary options. No special skills are required. You have to simply select the asset and decide how much you are willing to invest.

Research the kinds of strategies available and learn the bare minimum about them. Start with the basics. Maintain personal goals and a trading timeline for your binary options trading. This will help you keep track of your finances and your returns (including the profits). Follow financial papers and blogs to stay up to date on market trends.

The best strategies include the Rainbow, RSI Indicator, Candlestick, Money Flow Index and Bollinger Band.

Rainbow Strategy: Here, the investment is in multiple assets over a long period of time.

RSI Indicator Strategy: The Relative Strength Index (RSI) Strategy helps determine which assets are stable and oversaturated in the market.

Candlestick Strategy: This strategy is used to figure out which stock market trends are still going on and which ones have stopped.

Money Flow Index Strategy: This one helps in looking at the amount of money that is entering and leaving a market.
Bollinger Band Strategy: This technique enables you to predict market situations and trends.

Free Accounts
You can practice trading strategies and use a variety of tools by setting up a demo account or a free account on a number of different trading platforms before you actually start making investments. By using these accounts, you will be able to practice trading with virtual funds before you commit to using actual cash.

You Can Leave When You Want
You do not have to see a binary options investment through to the end. If you get the feeling that your prediction is not going to get you any returns, then you can back out anytime you want to. Just cancel the trade and leave. There will be no fines imposed on you.

Invest as Much as You Want

Binary options trading supports very small investments as well. This means that you do not have to have a huge bank account to start investing. You can begin your investment journey with binary options for just $5-10.

Beginner traders who do not want to lose all of their money at once will find this to be an excellent choice. Learn to trade and get some easy money without being penalized or going bankrupt.

Conclusion
Get the basics of binary options trading strategies at the tips of your fingers and opt for this instrument with just the amount of money you want to invest. Learn and grow along with your investments, and get acquainted with the world of the stock market, which will neither terrify you nor end with your becoming bankrupt.

Binary options trading enables fast payouts, higher returns, 24×7 investment options, and keeps all the cards in your hands. What more can investors even want?

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money markets

Bank of England raises rates, signals end to hikes – Yahoo News UK

LONDON (Reuters) – The Bank of England raised interest rates for the 10th time in a row on Thursday, but dropped a pledge to keep increasing them “forcefully” if needed and said inflation had probably peaked, sending the pound to session lows in volatile trade.

Softening their forecasts of recession this year, the BoE’s nine interest rate-setters voted 7-2 to increase Bank Rate to 4.0% – its highest since 2008 – from 3.5%.

MARKET REACTION:

STOCKS: The FTSE 100 dipped initially before bouncing back, and was last up 0.6% on the day, compared with a gain of 0.5% before the decision. The mid-cap index jumped 2.1%.

FOREX: Sterling briefly turned positive, but surrendered those gains and was last down 0.6% at $1.2298 and down 0.7% against the euro at 89.43 pence.

BONDS: The yield on Britain’s 10-year government bond initially spiked but then fell below levels seen before the decision. It was last down 15 basis points to 3.156%.

COMMENTS:

DANIELE ANTONUCCI, CHIEF ECONOMIST, QUINTET PRIVATE BANK, LONDON:

“There’s still some risk that the Bank could go for further interest rate rises if inflation news were unfavourable. After all, the Committee still sees risks to the inflation outlook as skewed to the upside.

That said, today’s decision raises the possibility that the Bank rate may have already peaked or be close to peaking, undershooting the 4.5% level priced in by financial markets prior to this announcement.”

WES MCCOY, SENIOR INVESTMENT DIRECTOR AT STANDARD LIFE INVESTMENTS, ABRDN:

“When you read the commentary around it (rate hike) the Bank of England seemed more hawkish and still more concerned about inflation. The language around it was a 50 bps rise but also around that they still need to stay on the pressure against inflation. Whereas, the interpretation from the U.S overnight was there are reasons to step away from that pressure.”

DEAN TURNER, CHIEF EUROZONE AND UK ECONOMIST, UBS GLOBAL WEALTH MANAGEMENT, LONDON:

‘As expected, today’s 50 basis-point hike was a split decision. It looks as though the appetite for further outsized hikes is fading but given the BoE’s revised outlook for growth and inflation, this hiking cycle is unlikely to be over just yet. We look for one further increase of 25 basis points in March which should mark the top of the cycle. Furthermore, we believe the door remains open for rate cuts before the year is out.

PIOTR MATYS, SENIOR FX ANALYST, INTOUCH CAPITAL MARKETS, LONDON;

“There seems to be a preference to sell sterling especially against the euro and investors adopted such a preference back in December when the BOE delivered a dovish 50 bps bike and on the same say President Lagarde sounded significantly more hawkish, and we may witness similar situation today.

The outlook for the UK economy is still quite challenging compared to the euro zone and U.S., that is why GBP, after a knee-jerk reaction, resumed its decline.”

“The biggest risk to EURGBP today is if President Lagarde suddenly changes her tome and sounds far less hawkish following a widely expected 50 bps hike.”

BEN LAIDLER, GLOBAL MARKETS STRATEGIST, ETORO, LONDON:

“This is clearly the last big hike from the Bank of England, we’re on track for this rate cycle to finish in March or May.”

“They’re very much following the Fed’s lead in getting rates to a high enough level where they’re comfortable waiting to see what happens.”

“They’ve got some quite aggressive assumptions though, and there’s uncertainty around them… They’re looking for a very sharp fall in inflation to 4% by the end of the year, from 10.5% now… so that remains to be seen. The initial spike (in the pound) is always the machines rather than the humans.”

MICHAEL BROWN, MARKETS STRATEGY, TRADERX, LONDON:

“The move in the pound was the vote split. I think market participants were expecting at least one to go for a more modest 25 basis points and that may have been one of the reasons why we saw cable come off.”

“They dropped the ‘forcefully’ out of the language. That pretty much nails on the fact that March is probably going to be the last rate hike and, of course, the longer-run inflation forecasts have come quite sharply lower as well.”

“So it’s a bit more surprising in terms of votes – a bit more hawkish than we’d expected – but everything else is pretty much in line and mostly implying that the ‘Old Lady’ is very, very close to the end in terms of raising rates.”

SIMON HARVEY, HEAD OF FX ANALYSIS, MONEX EUROPE, LONDON:

“This is as straight down the line as you can get in terms of matching expectations from ahead of the meeting. They pretty much matched the market implied forecasts for rate increases, removed language saying they “will respond forcefully, as necessary” to signs of further inflation pressure and there was no increase in dovish dissenters.” (Two members of the rate-setting committee voted to keep rates on hold as expected)”

“We think they will step down to 25 basis points in March, but the question is what tone of the press conference will be like, that’s where markets are really trying to suss out the underlying feel of how they are thinking about monetary policy.”

JEREMY BATSTONE-CARR, EUROPEAN STRATEGIST AT RAYMOND JAMES INVESTMENT SERVICES, LONDON:

“More noteworthy is the corresponding Monetary Policy Report, which has revealed that the Bank now expects a shorter and shallower recession – a far cry from the rather dire predictions of only a few weeks ago.

“Yet for the Bank of England and the MPC, this good news is a wolf in sheep’s clothing. The economy’s unexpected resilience is keeping the inflationary fuel flowing, putting more pressure on the Bank to raise rates in its attempts to stem the flow. With the Bank’s upward revisions, the MPC may have to do the work they had hoped a lacklustre economy would achieve on its own.”

MIKE COOP, CHIEF INVESTMENT OFFICER UK, MORNINGSTAR INVESTMENT MANAGEMENT, LONDON:

“While the highest point of inflation is likely behind us, today’s rate rise shows that the year ahead will be a difficult one with the unusual cocktail of high inflation, rising rates and recession. Inflation outlook can change quickly and investors need to prepare portfolios for a range of inflation scenarios. The good news is that at current yields bonds are less sensitive to further rate rises, recession is cooling demand led inflationary pressures and gas prices have fallen sharply.”

(Reporting by Susan Mathew, Harry Robertson, Alun John, Joice Alves and Amanda Cooper and Shashwat Chauhan; Editing by Dhara Ranasinghe)

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Global stocks rise after Fed sees inflation improving – The Zimbabwe Mail




BEIJING (AP) — Global stock markets and Wall Street futures rose Thursday after the Federal Reserve said the U.S. economy is moving toward lower inflation but more interest rate hikes are planned.

London and Frankfurt opened higher. Shanghai and Tokyo advanced. Oil prices rose.

Wall Street’s benchmark S&P 500 index rose after the Fed increased its key lending rate by 0.25 percentage points, smaller than previous hikes. Chair Jerome Powell said the “disinflationary process has started” but “ongoing increases” in rates will be needed.

Traders hope central banks that raised rates repeatedly over the past year will scale back plans for more hikes as inflation eases. Some expect a U.S. cut before 2024, though Powell said he anticipates none this year.

Markets put a “dovish interpretation” on Powell’s comments despite his warning that it was too early to declare victory, said Venkateswaran Lavanya of Mizuho Bank in a report.

The gap between market pricing and Fed plans “appears to have widened,” Lavanya wrote. “This leaves room for a rude shock down the road.”

In early trading, the FTSE 100 in London rose 0.6% to 7,808.83. The DAX in Frankfurt gained 1.4% to 15,396.36 and the CAC 40 in Paris was up 1% at 7,148.88.

On Wall Street, the S&P 500 future was up 0.4%. That for the Dow Jones Industrial Average was off 0.1%.

On Wednesday, the S&P 500 gained 1% after Powell’s news conference for its highest close in two months.

“We can now say, I think for the first time, that the disinflationary process has started,” Powell said. He said his “base case” is that the Fed’s inflation target of 2% can be achieved “without a really significant downturn or really big increase in unemployment.”

That appeared to encourage investors who worry central banks might be willing to push the global economy into recession to cool inflation that is near multi-decade highs.


The Dow recovered from a loss to gain less than 0.1%. The Nasdaq composite jumped 2%.

On Thursday, the Shanghai Composite Index gained less than 0.1% to 3,285.67 and the Nikkei 225 in Tokyo added 0.2% to 27,402.05. The Hang Seng in Hong Kong shed 0.5% to 21,958.36.

The Kospi in Seoul was up 0.8% at 2,466.03 and Sydney’s S&P-ASX 200 added 0.1% to 7,511.60.

India’s Sensex shed less than 0.1% to 59,664.17. New Zealand and Jakarta advanced while Singapore, Bangkok and Kuala Lumpur declined.

Wednesday’s announcement raised the Fed’s overnight lending rate to a 16-year high of 4.5% to 4.75%, up from close to zero early last year.

Data on Wednesday gave a mixed picture of the U.S. job market, a factor in inflation expectations.

Hiring is resilient despite repeated rate hikes. While that helps workers, it adds to worries that wage gains could add to upward pressure on prices.

Private payrolls rose by 106,000 in January, according to ADP, a payroll processor. That was a smaller gain than the previous month and below forecasts.

A separate U.S. government report indicated more strength. It said the number of job openings increased to 11 million in December, better than expected.

In energy markets, benchmark U.S. crude rose 42 cents to $76.83 cents to $77.07 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $2.46 on Wednesday to $76.41. Brent crude, the price basis for international oil trading, added 39 cents to $83.23 per barrel in London. It lost $2.62 the previous session to $82.84 a barrel.

The dollar was unchanged at 128.57 yen. The euro rose to $1.1001 from $1.0979.


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